ResMed Inc. (NYSE:RMD) Shares Sold by Forsta AP Fonden

Forsta AP Fonden trimmed its holdings in ResMed Inc. (NYSE:RMD) by 8.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,800 shares of the medical equipment provider’s stock after selling 2,500 shares during the quarter. Forsta AP Fonden’s holdings in ResMed were worth $5,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of ResMed in the 4th quarter valued at approximately $27,000. OFI Invest Asset Management acquired a new position in ResMed during the 2nd quarter valued at $32,000. BOK Financial Private Wealth Inc. bought a new stake in shares of ResMed in the first quarter valued at about $35,000. Versant Capital Management Inc raised its stake in shares of ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new position in shares of ResMed in the 2nd quarter valued at $37,000. 54.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Royal Bank of Canada raised their target price on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Needham & Company LLC cut shares of ResMed from a “buy” rating to a “hold” rating and set a $236.00 price target for the company. in a report on Wednesday, September 4th. KeyCorp lifted their price objective on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $204.70.

ResMed Stock Down 0.7 %

NYSE RMD opened at $248.93 on Friday. The business’s 50-day moving average is $221.95 and its 200 day moving average is $207.01. The stock has a market capitalization of $36.58 billion, a PE ratio of 38.24, a PEG ratio of 2.51 and a beta of 0.69. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $255.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. ResMed’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts forecast that ResMed Inc. will post 8.92 earnings per share for the current year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 0.85%. ResMed’s payout ratio is 32.57%.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the transaction, the director now directly owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $194.35, for a total value of $194,350.00. Following the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at $17,502,383.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the transaction, the director now owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,931 shares of company stock valued at $22,644,807. Company insiders own 1.21% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.